August 31, 2017

Demonetisation fiasco: Where is the black money if 99.86% banned notes are back?

... it is now safe to conclude that on a cost-benefit analysis, the RBI has only losses due to the demonetisation exercise it ‘recommended’ to the Modi government. No big black money in cash got perished outside the banking system as the government expected initially. On the contrary, both the RBI and government had to take a hit as far as the cost of this humongous exercise is concerned -- one of the major reasons why the RBI’s dividend to the government fell by half this time.

The RBI transferred just Rs 30,659 crore as dividend to the government for the year ended June 2017, less than half the previous year's levels. Last year, it transferred Rs 65,876 crore to the government. This year, the expectation was Rs 74,901 crore will flow into the government exchequer, partly due to the demonetisation gains.... Source: Firstpost


RBI says 98.96% of Rs 500, Rs 1000 notes returned after ... - Livemint

www.livemint.com › Industry › Financial Services

16 hours ago - The government had banned Rs 1000 notes and Rs 500 notes after demonetisation. Photo: Ramesh Pathania/Mint. Mumbai: According to ...

How demonetisation was unprofitable for RBI - Livemint

www.livemint.com › Industry › Financial Services

2 hours ago - While demonetisation was one of the key reasons for lower profits for the RBI, the government bore the brunt in the form of lower dividend from ...

Demonetisation: RBI says 99% banned notes are back; where is the ...

www.firstpost.com/.../demonetisation-rbi-says-99-banned-notes-are-back-where-is-the...

3 hours ago - With the figures finally out, it is now safe to conclude that on a cost-benefit analysis, theRBI has only losses due to the demonetisation exercise ...

Demonetisation: Nearly all Rs 1,000 notes returned says RBI

timesofindia.indiatimes.com › Business › India Business News

13 hours ago - The report further says that the cost incurred by RBI in printing notes ... of 632.6 crore have not returned into the system since demonetisation ...

Demonetisation: Almost 99 per cent of Rs 500, 1000 notes back ...

indianexpress.com › Business › Banking And Finance

5 hours ago - The Reserve Bank of India (RBI) Wednesday disclosed that almost 99 per cent of Rs 500 and Rs 1,000 currency notes which were withdrawn ...

RBI demonetisation report: 99 pct old Rs 1000 notes back, 8.9 crore ...

www.financialexpress.com › Economy

19 hours ago - The Reserve Bank of India (RBI) in its annual report for 2016-17 confirmed that almost 

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